MENLO PARK, Calif. (AP) _ Facebook Inc. (FB) on Wednesday reported second-quarter net income of $3.89 billion.

The Menlo Park, California-based company said it had profit of $1.32 per share.

The results exceeded Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.

The social media company posted revenue of $9.32 billion in the period, also exceeding Street forecasts. Eleven analysts surveyed by Zacks expected $9.17 billion.

Facebook shares have risen 44 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 11 percent. In the final minutes of trading on Wednesday, shares hit $165.61, a rise of 37 percent in the last 12 months.


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Keywords: Facebook, Earnings Report, Priority Earnings